Recapitulation of Axia Protocol AMA event held at AMA LOVERS CLUB
Date: Friday, 4th December, 2020
Time: 18:30 UTC
The Axia Protocol team was represented by @AxiaAdmin, @AxiaDev, @If_I_DM_You_first_Block_me, and @mouse_The_mighty. They judiciously shared with us detailed knowledge and information about the project.
1st Segment: INTRODUCTION
Q1 : Can you please introduce yourself and your background, also introduce the Team working on Axia project
Ans : Well, introductions may not work here as the core team behind the project has remained anon from the start. As regards backgrounds, I have been into the cryptocurrency ecosystem for quite sometime now
I joined in mid 2017 during the crazy bull market...it was such an amazing experience though I knew I had a lot of learning to do
I didn’t have much information back then so it was a bit of a hassle getting started with investments. I had to learn a lot of things especially about knowing where to put my money. I made some bad investments just like every other investor in this space. This is where the idea/inspiration for AXIA came from. New investors can be saved the stress of DYOR (though it cannot be completely ruled out). Also, we believe crypto index funds will help catalyze cryptocurrency adoption.
Q2 : Can you introduce the Axia project, what critical problems does it solve that existing solutions are not solving and what’s the competitve advantage
Ans : Axia Protocol is a decentralized crypto index fund platform which presents cryptocurrency enthusiasts or investors with the opportunity to invest in baskets of cryptocurrencies (which we refer to as Axia Funds) and also rewards them for making such investments.
We understand that new investors in crypto go through a lot when deciding which coins/tokens to invest in. So we thought we could simplify things for them by creating baskets of tokens which track specific niches within the cryptocurrency ecosystem (such as Oracles and DeFi for starters). Investors can buy into these funds giving them exposure to all the underlying assets that make up the funds
Axia Protocol is a platform that saves investors the stress of looking through different platforms to decide where to make an investment. It brings in different underlying assets into one and gives the investor the exposure to these assets through the usage of Axia
Q3 : Can you briefly describe the Top milestones you have achieved and your target milestones with timelines, also share your roadmap
Ans : Well, we have been able to
i) successfully launch our staking/farming dapp,
ii) investors have started buying into our index funds and are being rewarded by staking their index fund tokens on the dapp
iii) we implimented the Zap feature which serves as a shortcut for investors to provide liquidity to our pools on balancer by sending just ETH. This feature helps to save investors time and energy
We are also working on adding more index funds so as to be able to attract a wider audience of investors
We are also rebranding our dapp UI to give it a more attractive look and feel...announcements will be made when its about to go live
Our goal is to bring a new face to the Axia protocol - and set it up to be user friendly for new and experienced investors alike. Not just for those who are well versed in crypto. To do that one of our big changes is a new UI and UX that is seamless and appeals to a large demographic of investors
We have recently changed to a new management team, improving our social media presence, and introducing more transparency among the team and community.
We have also set a defined short term roadmap which can be found here : http://shorturl.at/tvEHX
This month we will also be aiming to include more functionality including a zap feature out of our pools - and potentially an autostake function, this allows investors to easy invest in and out of index funds without learning specific nuisances of cryptocurrencies and our protocol itself.
We are aware that in the cryptocurrency space, it's not just the protocol and use case that drives growth, it is also discovery of our procotol. To achieve better discovery of Axia we have a well defined budget and a flexible marketing strategy to bring fresh and new eyes into our protocol.
2nd Segment: TWITTER QUESTIONS
Q1 : In each epoch from 1-10 it lasts 180 days. does it affect investors' income and the number of tokens stored. Isn’t that a long time in accordance with the benefits of being an AFT Token holder ??
Ans : No, the epochs don’t affect investor’s income in any way. what happens is that after an epoch ends and a new one begins, the amount of tokens being emitted daily is halved
That is...tokens become scarcer. This was intended to check the rate of inflation of the token
Each Epoch sets the rate of tokens that will be emitted - rewards are actually distributed daily so investors are able to utilise this immediately if they so choose to!
What the 180 day Epoch means is that, every 180 days - the total pool of emissions that will be distributed is halved. This is to prevent hyperinflation of the token.
Of the tokens that are emitted - there are burn functions within the protocol that strikes a balance to control inflation.
Q2 : The Axia Oracle Fund and the Axia DeFi Fund are made up of the same tokens? both include Axia and Ethereum tokens?
Ans : No! They aren’t made up of the same tokens...the only token similar to the two funds is the AXIAv3 token which will always be a part of the tokens that will make up all our upcoming index funds
The image above shows the different tokens in each of the funds.
Q3 : What is the main objective that after the end of each period, the daily amount of token emission is reduced to half when a new period begins? What is expected to be achieved with this? is the main objective that after the end of each period, the daily amount of token emission is reduced to half when a new period begins? What is expected to be achieved with this?
Ans : Like I mentioned before, the halving was implemented because we wanted to check the rate of inflation of the token. We also believe that the halvings will make the token appreciate in price due to scarcity after each epoch ends
This is to check mate hyperinflation of the tokens in circulation.
Further more, as the token value is halved it is expected that usage of our protocol increases and consequently price action. So despite the halving of emissions, the real rate of return is maintained.
Q4 : How the user can earn $AFT AND $BAL tokens? And how Axia Tokens will be emitted on a daily basis and distributed to all farmers/stakers on the various pools?
Ans : Hi all thanks for the AMA - part of the Axia team here :)
As described earlier the main objective for reducing emissions is to control inflation. As the token value is halved it is expected that usage of our protocol increases and ultimately it is expected that there will be an increase in price action. So despite halving emissions at each epoch, the rate of return is maintained for the investor.
A very good example is the Bitcoin halvings that happens every 4 years
AFTs cannot be earned. AFTs are minted to LPs when they provide liquidity to our pools
As touching BAL earnings, when we’re relaunching our dapp, we are going to implement a feature that will enable us to distribute the BAL tokens that are sent to the staking pools (as a result of the BPTs (AFTs) they hold) to our investors on a weekly basis
Q5 : What is the % interest rate of holding $AXIA token?
And how long can I enjoy this % return while I hold $AXIA ?
Ans : Hey @radss99 the interest rate or APY varies based on the total amount invested within your selected pool and your percentage of the respective pool.
Emissions are allocated to a pool with distributions to investors on a pro rata basis.
For example. If you have 1000 tokens in a pool of 10000, you have 10% of the said pool. The pool earns 1000 emissions and thus you’ll receive 100 tokens.
Your rate of return isn’t limited to emissions either! The beauty of the index fund is your initial investment is subject to growth through capital appreciation - the value of your investments rising!
For example, if you invest in the Oracle pool - your investments are spread across a basket of oracle tokens. If that month oracle tokens rise 30%, you’ll see a similar rise across the board in the value of your investment. Add to that your emissions!
3rd Segment: LIVE QUESTIONS
Q1 : How is the investment work on Oracle pool. Can you please explain briefly?
You only have to make use of the Zap ETH feature on the UI in the Oracle Fund section. Make sure you have ETH in your wallet, enter the amount of ETH you'll like to invest and click the 'Zap ETH to Oracle AFT'
Doing this will automatically buy up all the underlying tokens that make up the Oracle fund pool and mint BPT (AFT) in return for you
Q2 : What is the reason you divide Emissions based on the number of "epochs" the new contract will issue. How do we get Epochs?
Ans : As said earlier, the emissions are halved after each epoch ends to check mate inflation and also to cause scarcity which in turn influences the price of the token.
With new pool contracts the epochs will continue from where it is currently. The new contracts will have modifications which are independent of the token contract where the emissions take place. So the epochs will continue from the token contract
Each epoch is 10 years. So after 10 years a new epoch begins
Q3 : As for your $AFT token, What feature does it have that did not allow it to be compatible with Uniswap? And how are you going to make the development of your exchange favorable and put up to a greater adoption of your project?
I am very interested to buy $AFT please tell me where I can buy this and provide me link to access it directly.
Ans : During the first version of the protocol (v1), we had pools on uniswap where investors could easily buy AFTs. But we couldn’t proceed with that feature on the current version due to insufficient funds to provide initial liquidity for those pools.
Q4 : Q: Will Axia trade on centralized exchanges? If so, which ones will be the first to be included and how will they guarantee the best benefits and security even when these exchanges are not decentralized?
Q: Do I need to approve the KYC in order to be part of the protocols developed by Axia? How do you ensure that new users are real people and not bots designed to harm the platform?
Ans : Great question!
So we are actually on a few centralised exchanges currently - and are trading actively on there. Albeit volume on some CEX is low. We’re listed on probit and Hotbit, and also coingecko.
There’s always risks with CEX and each CEX have their own measures in place to protect their investors such as insurance, cold wallet storage and so forth.
Following on this - the beauty of Axia is that we are a DeFi project. This means that no KYC is required to invest and you’re able to be part of the protocols immediately if you desire. As with utilising our protocol - it is handled on the BC and through contracts as you’re probably aware of, so aren’t subject to similar risks a CEX has.
As for bots, with any project there are always bots which at times can be difficult to control. Our goal is to get real use cases and attract real investors so the teams goals are congruent with investors.
Q5 : Axia is a great project we know that...but in future there will be any value of this project??if your ans is yes then can you please tell me some advantages of Axia?
Ans : As I had stated earlier, we intend to continue to add new index funds from time to time. The cryptocurrency ecosystem is involving on a daily as the technology grows. New niches will be discovered which will inspire new index funds to be added. the more index funds we have, the more valuable our platform becomes
Q6 : "Well, introductions may not work here as the core team behind the project has remained anon from the start."
Why have you guys chosen to be anon? Now that many projects rug pull, how do you intend to build trust in your community?
Ans : Good question. Safety and security is paramount.
Most of the core team is anon. However we also have team members who are not anon! In addition the founders tokens and liquidity is locked for a year! This can be verified.
Axia has also seen a lot of growth and at the same time a lot of hurdles. Given we’ve been on market for three months with continued reinvestment, growth and planned development in this space it shows the team are dedicated in advancing the protocol. There are a lot of rug pulls in the DeFi space so hopefully this information puts your mind at ease regarding some of those concerns!
Q7 : I don’t get it. Do you plan to burn 1% of tokens after every stake period?
Ans : This is going to change when we deploy the rebranded dapp. We are going to have those 1% sent to the project’s treasury instead of being burnt. This will help the project generate more funds for developing and marketing the project.
Q8 : You say the AXIA token has a unique emission model divided into periods (periods of 180 days each). Can you explain that? How is your emission model different from other projects?
Ans : Some other projects do not consider inflation when planning rewards for investors. Continuous release of tokens into circulation at a constant rate dilutes the circulating supply of the tokens so much that the price of the token only goes down. Smart investors have no reason to hold the tokens but instead dump them as soon as they are harvested.
Q9 : DOES your plan for Axia Token include token burning?
I believe you need funds to develop your project. How will Axia generate revenue?
Ans : Yes our plan does involve token burning as a second step to control inflation.
Our project generates revenue through utilisation of the protocol and through team funds which are staked! Just like any investor the team funds are staked to earn emissions.
Q10 : AXIA website reads ; " Yield farmers" and "lone stakers" are the only participants allowed to provide liquidity,
What is the difference between " lone staker " and the normal stakers ?
Ans : That’s not true. Yield farmers are those investors who add liquidity to our pools and stake their AFTs. Lone stakers are those who only stake their AXIAv3 tokens in the lone pool
Thanks for great answer you can share where can buy Tokens and all social Media.?
Ans : Thank you for hosting us here and thanks to the community for all the great questions! I had a great time and look forward to you all looking into Axia and researching us more. Excited for those who plan to join us for the journey!
Thanks to the community for hosting us. Its really a pleasure to share our project with you once again 😊
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